The AchieVer Posted March 19, 2019 Share Posted March 19, 2019 Airbnb is reportedly in talks to invest in OYO If the deal reaches fruition, Airbnb will be joining a clutch of high-profile investors in OYO like SoftBank, Sequoia Capital, Didi Chuxing and GrabETtech Home-renting giant Airbnb is in talks to invest about $100-$200 million in hospitality chainOyo Hotels & Homes, amid a growing focus on hotel-booking business, reports The Information (subscription needed). This move comes weeks after Airbnb acquired the last-minute hotel-booking app HotelTonight for $400 million, ahead of a much anticipated initial public offering. If the deal reaches fruition, Airbnb will be joining a clutch of high-profile investors in OYO like SoftBank, Sequoia Capital, Didi Chuxing and Grab who recently invested $1 billion into the Gurugram-based firm at a valuation of $5 billion. Once direct rivals, both OYO and Airbnb have acknowledged each other as partners in recent months, after the former shifted its model from being a pure hotel aggregator to a hospitality player. "If you look at what we do, it is very different from what Oyo does or anyone else for that matter. I think we each have our own approach to the market, and we each have a loyal following, and a sizable following" Airbnb co-founder and chief strategy officer Nathan Blecharczyk had told in an interview to ET last month. Oyo “is working closely with a range of global distribution partners such as Airbnb and other regional and global players. ...None of these relationships are exclusive in nature.” an Oyo spokeswoman told the publication. Airbnb's India expansion Airbnb which entered the India market in 2012, is looking to ramp up its operations in the country after witnessing significant growth in the number of guests and listings last year. Last month, Blecharczyk had told ET that India is among the five fastest-growing nations for the company. The transaction could significantly expand Airbnb's inventory of 45,000 listings in the country. OYO currently claims to have more than 8,700-plus buildings and over 173,000 rooms under its management in India. Airbnb will also benefit with OYO's growing footprint in China, a geography that the Gurugram-based firm has begun referring to as its second home market. OYO's China business Oyo Jiudian operates more than 5,000 hotels and 260,000 rooms across 280 cities as of January 2019. On the flipside, Airbnb's backing could accelerate OYO's global expansion spree. Over the past year, it has entered markets like the United States, Saudi Arabia, Philippines, United Arab Emirates, and Sri Lanka among others, The company claims to have over half a million rooms across the world. Source Link to comment Share on other sites More sharing options...
Home-renting giant Airbnb is in talks to invest about $100-$200 million in hospitality chainOyo Hotels & Homes, amid a growing focus on hotel-booking business, reports The Information (subscription needed). This move comes weeks after Airbnb acquired the last-minute hotel-booking app HotelTonight for $400 million, ahead of a much anticipated initial public offering. If the deal reaches fruition, Airbnb will be joining a clutch of high-profile investors in OYO like SoftBank, Sequoia Capital, Didi Chuxing and Grab who recently invested $1 billion into the Gurugram-based firm at a valuation of $5 billion. Once direct rivals, both OYO and Airbnb have acknowledged each other as partners in recent months, after the former shifted its model from being a pure hotel aggregator to a hospitality player. "If you look at what we do, it is very different from what Oyo does or anyone else for that matter. I think we each have our own approach to the market, and we each have a loyal following, and a sizable following" Airbnb co-founder and chief strategy officer Nathan Blecharczyk had told in an interview to ET last month. Oyo “is working closely with a range of global distribution partners such as Airbnb and other regional and global players. ...None of these relationships are exclusive in nature.” an Oyo spokeswoman told the publication. Airbnb's India expansion Airbnb which entered the India market in 2012, is looking to ramp up its operations in the country after witnessing significant growth in the number of guests and listings last year. Last month, Blecharczyk had told ET that India is among the five fastest-growing nations for the company. The transaction could significantly expand Airbnb's inventory of 45,000 listings in the country. OYO currently claims to have more than 8,700-plus buildings and over 173,000 rooms under its management in India. Airbnb will also benefit with OYO's growing footprint in China, a geography that the Gurugram-based firm has begun referring to as its second home market. OYO's China business Oyo Jiudian operates more than 5,000 hotels and 260,000 rooms across 280 cities as of January 2019. On the flipside, Airbnb's backing could accelerate OYO's global expansion spree. Over the past year, it has entered markets like the United States, Saudi Arabia, Philippines, United Arab Emirates, and Sri Lanka among others, The company claims to have over half a million rooms across the world. Source
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